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Underwriting Specialist - Excess Casualty

Underwriting Specialist - Excess Casualty

StarrcompaniesNew York, NY, US
30+ days ago
Job type
  • Full-time
Job description

Underwriting Specialist

Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world. Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world's fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.

The Underwriting Specialist in the Excess Casualty Profit Center is responsible for evaluating, underwriting, and managing excess insurance policies within the excess casualty insurance sector. This role involves assessing complex risks, determining appropriate coverage, and ensuring sustained profitable growth while maintaining compliance with company guidelines and regulatory requirements. The Underwriting Specialist will work closely with brokers, agents, and other internal departments to provide tailored insurance solutions to meet client needs.

Key Responsibilities :

  • Evaluate and underwrite excess insurance submissions for excess casualty risks.
  • Analyze complex risk exposures, financial statements, loss history, and other relevant information to determine insurability.
  • Assist with development and implementation of underwriting strategies in line with corporate governance to achieve sustained profitable growth.
  • Increase Hit Ratios, including Quote : Submit Ratio and Bind : Quote Ratio for assigned book and Excess Casualty Profit Center.

Policy Management :

  • Work closely with Underwriting Analysts to prepare quotes, binders, policies, and endorsements in a timely and accurate manner.
  • Monitor and manage a portfolio of excess insurance policies, ensuring adherence to underwriting guidelines and standards.
  • Conduct regular reviews of existing policies to assess performance, profitability, growth and recommend adjustments as needed.
  • Client and Broker Relations :

  • Build and maintain strong relationships with brokers and clients to facilitate business development and retention.
  • Provide exceptional customer service by addressing inquiries, resolving issues, and offering expert advice on coverage options.
  • Market Analysis and Development :

  • Stay informed about industry trends, market conditions, and competitor activities to identify opportunities for growth.
  • Collaborate with Regional Vice Presidents, Marketing and product development teams to promote new excess insurance opportunities.
  • Participate in market facing industry events, conferences, and networking opportunities to enhance the company's market presence.
  • Compliance and Documentation :

  • Ensure all underwriting activities comply with company policies, regulatory requirements, Underwriting Guidelines, and industry standards.
  • Maintain accurate and up-to-date records of underwriting decisions, correspondence, and policy documentation.
  • Adhere to Underwriting Guidelines, procedures, authority, and best practices.
  • Key Responsibilities :

  • Provide mentorship and guidance.
  • Assist mentees in understanding key concepts related to excess casualty insurance.
  • Offer insights into industry best practices, regulatory requirements, and claims processes.
  • Help mentees develop professional skills such as risk evaluation, policy interpretation, and client communication.
  • Share real world experiences to enhance mentees problem solving and decision-making abilities.
  • Stay updated on industry trends and share relevant knowledge with mentees.
  • Qualifications :

  • Bachelor's degree in Business, Finance, Insurance, or a related field.
  • Professional designations such as CPCU (Chartered Property Casualty Underwriter) or AU (Associate in Commercial Underwriting) are preferred.
  • Extensive experience, minimum of 15 years in underwriting, with a focus on excess insurance within the property / casualty sector.
  • Strong analytical skills and the ability to assess complex risks and make sound underwriting decisions.
  • Strong knowledge of casualty insurance policies, coverage types and regulatory requirements.
  • Excellent communication and interpersonal skills, with the ability to build and maintain relationships with brokers, agents, and clients.
  • Proficiency in underwriting software and Microsoft Office Suite.
  • Detail-oriented, organized, and able to manage multiple tasks and deadlines effectively.
  • Starr is an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.

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    Underwriting Specialist • New York, NY, US

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